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Sony May Cut PS2 Price This Week

Time: 17:29 EST/22:29 GMT | News Source: Reuters | Posted By: Byron Hinson

Sony Corp. will cut the price of the PlayStation 2 video game console this week in order to be ahead of rival Microsoft Corp, which is expected to cut the price of its competing Xbox console next week, analysts said on Monday. The PS2, which came out in Nov. 2000, retails for $299 in the United States. Analysts differed on how far Sony would cut the price for its market-leading game machine, with some predicting that it could discount by as much as a third to $199. "What I heard late Friday and this morning is they were definitely going to $199," said Michael Wallace, an analyst at UBS Warburg who follows the industry. Deutsche Bank Securities analyst Jeetil Patel also said he had heard talk of an impending price cut, but expected a less aggressive discount from Sony.

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